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Fresh Trend Low

AUDUSD TECHS
  • RES 4: 0.6900 High Jun 16 and a key resistance
  • RES 3: 0.6871 High Dec 28 and the bull trigger
  • RES 2: 0.6729/71 High Jan 12 / 3
  • RES 1: 0.6565/6625 20-day EMA / High Jan 30 and key resistance
  • PRICE: 0.6456 @ 15:05 GMT Feb 13
  • SUP 1: 0.6453 Low Nov 17
  • SUP 2: 0.6412 76.4% Fibonacci retracement for Oct - Dec upleg
  • SUP 3: 0.6360 Low Nov 14
  • SUP 4: 0.6339 Low Nov 10

A bearish theme in AUDUSD remains intact and today’s break lower reinforces this theme. The move lower confirms a resumption of the downtrend and signals scope for weakness towards 0.6453, the Nov 17 low, and 0.6412, a Fibonacci retracement. Moving average studies are in a bear-mode set-up, highlighting a downtrend. Key resistance to watch is 0.6625, Jan 30 high. Initial resistance is at 0.6565, the 20-day EMA.

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